A series of PtRu nanocomposites supported on H2O2-oxidized multi-walled carbon nanotubes (MWCNTs) were synthesized via two chemical reduction methods - one used aqueous formaldehyde (HCHO method) and the other used ethylene glycol (EG method) as the reducing agents. The effects of the solvents (water and ethylene glycol) and the surface composition of the MWCNTs on the deposition and the dispersion of the metal particles were investigated using N-2 adsorption. TEM. ICP-AES. FTIR and TPD. The wetting heats of the MWCNTs in corresponding solvents were also measured. The characterizations suggest that combination of the surface chemistry of the MWCNTs with the solvents decides the deposition and the dispersion of the metal nanoparticles. These nanocomposites were evaluated as proton exchange membrane fuel cell anode catalyts for oxidation of 50 ppm CO contaminated hydrogen and compared with a commercial PtRu/C catalyst. The data reveal superior performances for the nanocomposites prepared by the EG method to those by the HCHO method and even to that for tile Commercial analogue. Structure performance relationship of the nanocomposites was also studied. (C) 2005 Elsevier Ltd. All rights reserved.